Retirees on tap for biggest increase in Social Security benefits since 2011
by Joseph Lawler | Sep 18, 2017, 12:01 AM
The increase in the cost-of-living allowance for Social Security benefits next year is likely to be about 2 percent, according to the latest data, which would be the biggest hike since 2011.
The official increase will be released in October, after the Bureau of Labor Statistics releases the September data for the Consumer Price Index, on which the cost-of-living increase is based.
But with the August inflation data released Thursday, it looks highly likely that the COLA will be close to 2 percent, much better than the 0.3 percent that millions of retirees and disabled workers received in 2017.
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